Date: Wed, July 23, 2025 | 06:40 PM GMT
The cryptocurrency market is taking a dip after a strong multi-week rally, with Ethereum (ETH) retreating to $3,600 from a recent high of $3,875. This pullback has weighed on major memecoins, including Book of Meme (BOME).
BOME has slipped 7% today, trimming its monthly gains to 51%. But beneath the short-term dip, a potentially bullish fractal pattern is developing — one that closely mirrors the breakout setup recently seen in PENGU.
BOME Mirrors PENGU’s Breakout Setup
A side-by-side look at BOME and PENGU’s daily charts shows a strikingly similar pattern taking shape.
After forming a textbook falling wedge — a classic bullish reversal structure — PENGU reclaimed its 50-day and 100-day moving averages. These levels acted as a springboard, allowing PENGU to consolidate between key red and blue zones before exploding higher, ultimately rallying 171% in a multi-leg surge.
Now, BOME appears to be following that exact playbook.
Like PENGU, BOME has broken out of its falling wedge and reclaimed both its 50-day and 100-day MAs. It is now consolidating within the red resistance zone — the same stage where PENGU gathered strength before its massive rally. This fractal structure suggests BOME could be gearing up for a similar upside move.
What’s Next for BOME?
If this fractal pattern continues to play out, a breakout above the red resistance zone could trigger BOME’s next major rally, potentially targeting $0.0056 — a gain of roughly 171% from the red box resistance.
However, traders should remain cautious. Until BOME convincingly clears the $0.002585 resistance, there remains a chance of extended consolidation or sideways trading before the next breakout.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.